My WebLink
|
Help
|
About
|
Sign Out
Home
Browse
Search
AG 1998 08 17
CabarrusCountyDocuments
>
Public Meetings
>
Agendas
>
BOC
>
1998
>
AG 1998 08 17
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
4/4/2002 7:32:05 PM
Creation date
11/27/2017 11:52:11 AM
Metadata
Fields
Template:
Meeting Minutes
Doc Type
Agenda
Meeting Minutes - Date
8/17/1998
Board
Board of Commissioners
Meeting Type
Regular
Jump to thumbnail
< previous set
next set >
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
268
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
View images
View plain text
ADDENDUM <br /> <br />COMMERCIAL/RETAIl. DEVELOPMENT <br />INCENTIVE GRANT PROGRAM <br /> <br />HOTEL/CONFERENCE CENTER DEVELOP~VIENTS <br /> <br />I. OVERVIEW <br />Cabarrus County and the City of Concord have lagged behind Charlotte and Mecklenburg County in <br />the development of hotel/conference facilities and in local per capita accommodations tax and sales <br />tax revenues. Part of that pattern can be attributed to the development of hotel/conference facilities <br />and associated development in the center of the metro region, but not in surrounding counties and <br />cities. Construction of the 1-485 outerbelt augmenting other major highways in the rapidly growing <br />re~onal corridor that includes Concord and Cabarrus County now makes hotel/conference center <br />development feasible outside the metro center. Such development is a stimulus for additional <br />supportive commercial, office and retail businesses. It is common knowledge that hotel/conference <br />facilities are a resource for local and regional businesses. Such developments are the basis for <br />entering the meetin~conference market as an expansion of local economic development and tax <br />base. Further, it is corrunon 'knowledge locally that facilities are unavailable within Cabarrus County <br />for large business meetings, charitable events and other public gatherings. The feasibility and basic <br />attributes of a civic/convention center have been established through the study conducted for the <br />City of Concord. Much of the demand for such facilities is being absorbed by development in <br />Charlotte and Mecklenburg County. Therefore, it is the intention of the Concord City Council and <br />the Cabarrus County Board of Commissioners to establish a policy that will encourage <br />hotel/conference facility developers to consider sites within Cabarms County and the City of <br />Concord for future projects. <br /> <br />II. PROGRAM PARAMETERS <br />The Hotel/Conference Center Development Addendum to the Commercial/Retail Development <br />Incentive Grant Program involves a contractual agreement between the City, and/or (~ounty, and a <br />new, or existing business enterprise. The contractual agreement will provide for a financial <br />incentive grant based upon the level of room revenues and retail sales generated within the project <br />for a period of up to five full years. The City, and/or County, will agree to provide a financial <br />inducement to the developer of hotel/conference projects that meet the criteria established within the <br />guidelines of the addendum to the C/RDI Grant Program. <br /> <br />Each project will be dealt with on an individual basis using guidelines established under the <br />direction of the City Council and the Board of Commissioners. The guidelines for the program wili <br />be subject to periodic review. Changing economic conditions may cause the City and the County to <br />modify, amend or even terminate the program subject to compliance with any hotel/conference <br />development incentive grants in effect at that time. · · <br /> <br />Items for consideration in authorizing a hotel/conference center development incentive grant may <br />include but not be limited to: <br />· the size of the project based upon investment in site development, facilities and infrastructure; <br /> <br /> <br />
The URL can be used to link to this page
Your browser does not support the video tag.